4807 Pitt St · Duluth, MN 55804

$190,000

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 24 Days on market

Built 1910 6,970 sqft lot Est $221k · 14% under

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +26.2/30.0
• ARV discount +13.8/15.0
• DSCR +8.9/10.0
• 1% rule +6.4/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in ready in this 2 bedroom, 1 bathroom home. Nothing to do. Nice open front porch. Quick possession. Tile flooring main floor.

Key facts

• 6,970 sq ft lot
• Garage
• Built 1910

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family detached residence; 2 stories
• Exterior features: 50 x 140 lot

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Radiant heating; Natural gas heating
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $485 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 4.9% in Duluth — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#36 in MN, #1,060 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F.
• Duluth Public School District (urban): math 44% / reading 55% proficiency, ranked #132 of 301 in MN (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 99 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y ago; this cycle's ask has dropped $25k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $124k; list at $190k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $187,150 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.14% ✓
• Cap rate: 9.36%
• Cash-on-cash: 10.94%
• DSCR: 1.49
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $221,184
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4405 Cooke St	0.36mi	2/1.5	830 (+8%)	2mo	$260,000	$313	66
4921 Oneida St	0.50mi	2/1.0	748 (-3%)	12mo	$205,000	$274	62
4215 Regent St	0.62mi	2/2.0	820 (+7%)	0mo	$251,500	$307	55
801 N 46th Ave Ave E	0.26mi	2/1.0	864 (+12%)	22mo	$248,900	$288	49
4302 Pitt St	0.45mi	3/1.5 (+1)	848 (+10%)	20mo	$235,000	$277	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $75
• Equity at exit: $28,330

10-year hold

• IRR: 9.7%
• Equity multiple: 1.75×
• Total profit: $39,755
• Equity at exit: $16,428

Cash invested: $53,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 46 Balanced
• State Minnesota: 46 Balanced · D+2
• County: — inherits STATE
• City: — inherits STATE

2024 reforms strengthened tenant protections; ramsey/hennepin courts paced moderate to slow.

Methodology + full state rankings →

ZIP-level market 55804

• Active inventory: 99
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,170 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$154 /mo · $1,846/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $485

Break-even live

Break-even rent $1,556

Max offer price $190,000

Occupancy floor 73%

Sensitivity live

Price	-10% $592	-5% $539	+0% $485	+5% $431	+10% $377
Rent	-10% $313	-5% $399	+0% $485	+5% $571	+10% $656
Rate	-1.0pp $581	-0.5pp $533	base $485	+0.5pp $436	+1.0pp $386

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5090 London Rd Unit 1 Duluth, MN	2.0	2.0	959	$2,100	$2.19	14d	1	0.32mi
3780 London Rd Duluth, MN	1.0–3.0	1.0–2.0	1312	$2,542	$1.94	14d	1	1.23mi

Listing history 19 events

1. 2026-06-13
   status $190,000 Pending 24 DOM
2. 2026-06-10
   days on market $190,000 Active 24 DOM
3. 2026-06-09
   days on market $190,000 Active 23 DOM
4. 2026-06-09
   price $190,000 Active 22 DOM
5. 2026-06-08
   days on market $199,000 Active 22 DOM
6. 2026-06-07
   days on market $199,000 Active 21 DOM
7. 2026-06-05
   days on market $199,000 Active 18 DOM
8. 2026-06-03
   days on market $199,000 Active 17 DOM
9. 2026-06-02
   days on market $199,000 Active 16 DOM
10. 2026-06-01
    days on market $199,000 Active 15 DOM
11. 2026-05-31
    days on market $199,000 Active 14 DOM
12. 2026-05-30
    days on market $199,000 Active 13 DOM
13. 2026-05-18
    listed $215,000 Active
14. 2018-09-19
    soldstatus $124,000
15. 2018-09-18
    soldstatus $124,000 131-char remark

    Show marketing remark (131 chars)

    Move-in ready in this 2 bedroom, 1 bathroom home. Nothing to do. Nice open front porch. Quick possession. Tile flooring main floor.

16. 2018-06-27
    listed $124,000 131-char remark

    Show marketing remark (131 chars)

    Move-in ready in this 2 bedroom, 1 bathroom home. Nothing to do. Nice open front porch. Quick possession. Tile flooring main floor.

17. 2011-09-20
    soldstatus $94,500
18. 2011-09-02
    soldstatus $94,500 292-char remark

    Show marketing remark (292 chars)

    Move in Ready. This home has been re-done from top to bottom, newer flooring & paint. Updated copper pipes thru out, furnance & sewer line to street all within the last 5 yrs. Vinyl windows and 2yr old roof. Sit on the front porch or the side deck and enjoy the quiet Lakeside nei

19. 2011-06-07
    listed $99,500 292-char remark

    Show marketing remark (292 chars)

    Move in Ready. This home has been re-done from top to bottom, newer flooring & paint. Updated copper pipes thru out, furnance & sewer line to street all within the last 5 yrs. Vinyl windows and 2yr old roof. Sit on the front porch or the side deck and enjoy the quiet Lakeside nei

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MN · Partial reset (capped growth)

• Current annual tax: $1,846 · $154/mo
• Projected year-2 tax: $1,987 · $166/mo
• Expected delta: +$141/yr (+$12/mo · 7.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥90°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,039
• − Mortgage interest: −$10,643
• − Property taxes: −$1,846
• − Insurance: −$950
• − Repairs & maintenance: −$2,083
• − Management: −$2,083
• − Depreciation: −$5,527
• Taxable income: $2,907
• Est. tax owed @ 24.0%: −$698
• After-tax cash flow: $5,121/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Duluth Public School District
• NCES district ID: 2711040
• Math proficiency: 44% ▼ -10.00%
• Reading proficiency: 55% ▼ -6.00%
• Median HH income: $45,692
• Composite: 41.92/100
• National rank: #3360
• State rank: #132 of 301 in MN

Livability — Duluth

• Score: 82/100
• State rank: #36
• US rank: #1060

Category grades

Amenities F Commute A+ Cost of living A+ Crime C Employment C+ Housing A+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Duluth, MN
• City population: 71,097
• Population (ZIP): 16,018

Population outlook (St. Louis County) Hauer SSP2

• Today (2025): 202,411 people
• By 2030: 203,234 · +0.4%
• By 2040: 202,520 · +0.1%
• By 2050: 200,853 · -0.8%
• By 2075: 200,943 · -0.7%
• By 2100: 192,058 · -5.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 1% Asian 1%
• Common ancestry: Portuguese 14% Scottish 4% Romanian 4%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 1%

Political lean MEDSL · St. Louis

• 2024 margin: D (+13.7) · D 55.9% · R 42.2% · Other 1.8%
• 2008→2024 swing: -18.8pp toward R · 2008: 32.5pp · 2024: 13.7pp
• All cycles: 2024: D+13.7 2020: D+15.6 2016: D+11.8 2012: D+29.6 2008: D+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -253.94%
• Current HPI: 199.4064
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.41%
• F500 in state: 34

Industry mix (Fortune 500 HQ in MN)

Industry	F500 HQs	Revenue
▸Healthcare	2	$407B
▸Retail	2	$150B
▸Consumer Goods	2	$32B
▸Industrial Machinery	2	$6B
▸Agriculture	1	$40B
▸Healthcare / Medical Devices	1	$32B

Price history

+116.1% since first listed

7 events — show timeline

• 2026-05-18 Listed $215,000 LSAR
• 2018-09-19 Sold (Public Records) $124,000 Public Records
• 2018-09-18 Sold (MLS) $124,000 LSAR
• 2018-06-27 Listed $124,000 LSAR
• 2011-09-20 Sold (Public Records) $94,500 Public Records
• 2011-09-02 Sold (MLS) $94,500 NORTHSTARMLS as Distributed by MLS Grid
• 2011-06-07 Listed $99,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+8.7%/yr

Latest (2025): $1,846 · +1.8% YoY. Source: county tax records.